CBInsights-金融科技现状报告：值得关注的投资和行业趋势（英）-2021_79页_7mb

State Of Fintech Q2'21 Report: Investment & Sector Trends To Watch

Core Content

The State of Fintech Q2'21 Report provides an overview of the fintech industry's performance, highlighting key trends in investment, sector growth, and major developments in the quarter. The report emphasizes the significant increase in funding and deal activity, the rise of SPACs as a public market entry strategy, and the growing influence of big tech players in the fintech space.

Key Findings

• Overall Fintech Trends:

  • Q2'21 was the largest funding quarter on record, with $30.8B raised across 657 deals, a 30% increase from the previous quarter.
  • Deal activity grew by 2% QoQ and 29% YoY, showing strong momentum across the sector.
  • Mega-rounds (deals over $100M) increased significantly, accounting for 70% of total funding and contributing to the record funding.
  • South America led in growth with a 153% QoQ increase in funding and a 52% QoQ increase in deal count.
  • Fintech public exits reached new highs, with 19 public exits, including notable SPAC announcements by companies like Grab, Better.com, Dave, and Acorns.

• Sector Trends:

  • Payments: Raised over $8B, with a 25% QoQ increase in funding. 24 mega-rounds accounted for 80% of total funding. Key players included Plaid, TrueLayer, and Belvo.
  • Banking: Experienced a 59% QoQ increase in deal activity and 43% QoQ increase in funding. 16 mega-rounds contributed to 68% of total funding. Nu (Brazil) and Marqeta (US) were notable deals.
  • Digital Lending: Saw a 76% QoQ increase in funding and 19% QoQ increase in deal activity. 16 mega-rounds accounted for 77% of total funding. Klarna (Sweden) and Better.com (US) were among the top deals.
  • Wealth Management: Funding fell by 21% QoQ to $4.4B, but 12 mega-rounds set a new record, representing 77% of total funding. Wealthsimple (Canada) and Xingyun Group (China) were key players.
  • Insurance: Funding surged by 79% QoQ, with 66% of total funding coming from mega-rounds. Wefox (Germany) and SaltPay (UK) were notable deals.
  • Capital Markets: Deal activity fell by 10% QoQ, and funding dropped by 82% to $5.1B, marking the third consecutive quarter of decline.
  • SMB Fintech: Raised $5.9B, with a 47% QoQ increase in deal activity. This was the strongest performance in 5 quarters.
  • Real Estate: Funding increased by 25% QoQ to $3.2B, despite a 20% QoQ decrease in deals. EBANX (Brazil) and dLocal (Uruguay) were key deals.

Major Viewpoints

• SPACs have become a popular route for fintech companies to enter the public market, with notable examples including Grab, Better.com, Dave, and Acorns.
• Open Banking is gaining momentum, with Visa's acquisition of Tink and Plaid's $425M Series D highlighting the sector's growth.
• Big Tech is expanding its presence in fintech, with Facebook's Diem stablecoin, Apple's Family Card, Google's rebranded crypto and payments initiatives, and Amazon's expansion into contactless checkout.
• Latin America has seen a 57% CAGR in fintech funding since 2016, with Brazil-based fintechs representing 70% of total funding in the region.
• Blockchain funding reached a record $4B in Q2'21, with companies like Circle, Ledger, and Paxos leading the charge.

Key Information

• Top Fintech Deals:

  • Trade Republic ($987M)
  • Mollie ($934M)
  • Nu ($2,545M)
  • wefox ($924M)
  • Klarna ($3,472M)
  • Wealthsimple ($712M)
  • Xingyun Group ($954M)
  • SaltPay ($777M)
  • Better.com ($905M)
  • Kavak ($488M)

• Most Active Fintech VCs:

  • SoftBank Group
  • Tiger Global Management
  • Sequoia Capital
  • Alkeon Capital Management
  • CPP Investments
  • Founders Fund
  • General Atlantic

• Fintech Unicorns:

  • Globally, there are 131 fintech unicorns, valued at a combined $516B.
  • The average deal size increased by 28% to $47M.

Summary of Fintech Sector Performance

Appendix Highlights

• Fintech IPOs in Q2'21 included Coinbase, dLocal, Alkami, Marqeta, and Flywire, with valuations ranging from $2.4B to $65.3B.
• Mid- and late-stage deals saw an 8% increase in share of total deal activity QoQ.
• Funding YTD exceeded 2020 totals by 24%, showing strong year-over-year growth.
• Mega-rounds accounted for 70% of total funding, with the average deal size rising to $47M.

Conclusion

Q2'21 marked a significant milestone for the fintech industry, with record funding and a surge in mega-rounds. The sector is evolving rapidly, driven by innovation in open banking, blockchain, and digital lending. Big tech companies are playing a pivotal role in reshaping the financial landscape, while SPACs and IPOs are providing new pathways for fintechs to enter the public market. Latin America and Europe are emerging as key regions for investment and growth.